The world's largest online retailer, Amazon.com, Inc., is preparing to launch a project utilizing non-fungible tokens (NFTs).
Those familiar with the situation claim (1) that the NFT project, also known as the "digital assets enterprise," would make it possible for Amazon to concentrate on blockchain-based games that award players with NFTs.
It is anticipated that the NFT effort will get off the ground as early as this spring, in April.
Andy Jassy, the CEO of Amazon, was quoted earlier saying (2) that he believed in the potential of NFTs and that the business may start selling them. He also mentioned that Amazon would continue to support crypto currency transactions.
Andy Jassy said:
"I anticipate that non-traditional trading will continue its extremely considerable growth. I do believe that over time, you'll see crypto get bigger, and Amazon will likely start accepting crypto payments. However, we're probably not near to adopting crypto currency as a payment method in our retail business.
It would appear that now is the appropriate moment for the Amazon NFT platform.
A comment was made by one of the sources:
"We did not doubt that it could be done. However, it appears it will take place presently. That will have an effect on the existing players in the area – provided that they execute, do this well, and be as astute about it as possible.
An additional spokesperson who is acquainted with the situation offered the following:
"Because Amazon has such a large consumer base, the company has the potential to have a significant impact on the NFT industry."
According to a few reports, the project will most likely focus on encouraging Amazon users to participate in crypto currency games so that they may win free NFTs in the process.
In addition, rather than being managed by Amazon Web Services (AWS), a division of Amazon that offers an ever-evolving cloud computing platform, the platform would most likely be operated out of Amazon itself. However, it is now unclear who will be in control of the effort being taken.
Amazon Researching NFT Space
The first time that Amazon demonstrated curiosity in Web3 technologies was during the spring of 2022 when the business posted employment openings within the Amazon Web Services (AWS) team that were relevant to blockchain technology.
The first episode of the new documentary series "NFTMe," which presents NFTs, was made available on Amazon in December 2022. Participants from all over the world, including artists, collectors, and industry experts, discuss their encounters with NFTs and how the fusion of art and technology has positively impacted their day-to-day lives throughout the show.
The show featured over fifty guests during the first season of NFTMe, produced by the multi-award-winning production studio Tech Talk Media and helmed by the multi-award-winning filmmaker Jonny Caplan.
Queen Diambi of Congo, Peter Rafelson & Cheryl Douglas, Refik Anadol, Susaye Greene, and others are counted among them. They all have first-hand experience with NFTs, give presentations on Web3 and NFTs, and discuss how NFTs have influenced their lives.
The series became accessible on Amazon Prime on January 3 for subscribers in the United Kingdom and the United States. There are plans to publish it internationally later this year.